AUD/USD Forecast Dec. 08, 2011, Fundamental Analysis

The AUD/USD pair advanced near its highest level in two weeks, after the Australian economy announced better than expected growth during the third quarter.

The Australian economy released the GDP for the third quarter, which showed that Australia expanded by 2.5% on the year compare with the previous reading of 1.9%.

The cheerful GDP reading helped the Aussie to restore gains against the greenback, after the previous losses due to the interest rate cut by the Reserve Bank of Australia.

On Thursday at 00:30 GMT, the Australian economy will release the Unemployment Rate for November, where it’s expected hold steady at 5.2%.

As for the Employment Change in Australia, it’s expected to come at 10.0 thousand after the previous 10.1 thousand.

At 13:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 402 thousand last week.

The Wholesale Inventories for October will be published at 15:00 GMT, where it’s expected to come at 0.3% compare to the previous reading of –0.1%.

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